Alabama offers a “friendly environment” for captives and risk retention groups, according to Alabama Department of Insurance deputy commissioner Mark Fowler and economic and governmental relations expert Josh Blades.
The two were speaking at the Alabama Captive Insurance Association’s (ACIA) annual conference in Point Clear, Alabama, last week. Together, they discussed discussed the benefits of domiciling in the state, as well as providing an economic development update for Alabama.
The captive industry’s strong relationship with elected officials was critical to the success of the domicile, they agreed.
It was just one session of many over the three days of the conference. Others included an exploration of the CIC v. IRS case on reporting of micro-captive transactions; a look at the rise of RRGs in Alabama; an overview of Alabama’s new comprehensive legislation; and details on the captive opportunities in cyber risk.